The Energy Policy Tracker has finished its first phase of tracking related to the Covid-19 recovery. Our dataset for 2020-2021 is complete. A new dataset on energy policies in the context of multiple crises will be launched in the coming year.

Islamic Development Bank (IsDB)

In 2020-2021, in response to the COVID 19 pandemic, Islamic Development Bank (IsDB) have committed at least USD 2.02 billion to supporting energy projects through new loans, grants, and guarantees according to their own reporting and other publicly available information. This public finance includes:

  • At least USD 1.77 billion for fossil fuels without conditions
  • At least USD 20.20 million for unconditional clean energy
  • At least USD 209.60 million for conditional clean energy
  • At least USD 26.00 million for other energy

By energy type, Islamic Development Bank (IsDB) committed at least USD 1.52 billion to oil and gas (at least USD 1.52 billion to unconditional oil and gas).

Finally, Islamic Development Bank (IsDB) committed at least USD 243.90 million to multiple fossil fuels (at least USD 243.90 million to unconditional multiple fossil fuels).

A considerably larger amount of new public finance from Islamic Development Bank (IsDB) that is not at the project level may also benefit different elements of the energy sector, however this finance is not reported on in a way that can be disaggregated and therefore is not included in the database. This finance is largely made up of (a) investments in financial intermediaries (like commercial banks, private equity firms, or other development funds), (b) budgetary or policy support loans that are cross-cutting across many areas of government, (c) technical assistance, and (d) funding for associated infrastructure like ports or roads that will be primarily used for the transport of energy-related goods.

Many of these public finance commitments are part of programs that existed prior to the COVID-19 pandemic, however they only represent projects that were approved post-pandemic. Recovery spending via Islamic Development Bank (IsDB) is cross cutting and it is quite subjective to disaggregate what projects are or are not recovery related.

Updated: December 31st 2021


At least

$1.77 billion

Supporting fossil fuel energy



At least

$229.80 million

Supporting clean energy

Islamic Development Bank (IsDB)

In 2020-2021, in response to the COVID 19 pandemic, Islamic Development Bank (IsDB) have committed at least USD 2.02 billion to supporting energy projects through new loans, grants, and guarantees according to their own reporting and other publicly available information. This public finance includes:

  • At least USD 1.77 billion for fossil fuels without conditions
  • At least USD 20.20 million for unconditional clean energy
  • At least USD 209.60 million for conditional clean energy
  • At least USD 26.00 million for other energy

By energy type, Islamic Development Bank (IsDB) committed at least USD 1.52 billion to oil and gas (at least USD 1.52 billion to unconditional oil and gas).

Finally, Islamic Development Bank (IsDB) committed at least USD 243.90 million to multiple fossil fuels (at least USD 243.90 million to unconditional multiple fossil fuels).

A considerably larger amount of new public finance from Islamic Development Bank (IsDB) that is not at the project level may also benefit different elements of the energy sector, however this finance is not reported on in a way that can be disaggregated and therefore is not included in the database. This finance is largely made up of (a) investments in financial intermediaries (like commercial banks, private equity firms, or other development funds), (b) budgetary or policy support loans that are cross-cutting across many areas of government, (c) technical assistance, and (d) funding for associated infrastructure like ports or roads that will be primarily used for the transport of energy-related goods.

Many of these public finance commitments are part of programs that existed prior to the COVID-19 pandemic, however they only represent projects that were approved post-pandemic. Recovery spending via Islamic Development Bank (IsDB) is cross cutting and it is quite subjective to disaggregate what projects are or are not recovery related.

Public money commitments to fossil fuels, clean and other energy in Islamic Development Bank (IsDB) recovery packages, USD billion, in 2020-2021

Policies and Finance

MDB Recipient Country Category Policy name Sector Energy Type Mechanism Value committed, USD Date of announcement Policy type Sub-Institution or Programme Receiving entity Stage Arm of Government Primary and secondary stated objective of the policy Policy background Links to official sources Links to additional sources
Islamic Development Bank (IsDB) Multiple Clean unconditional Bundled – IsDB “Clean Unconditional” Investments under $200 million in 2021 Multiple sectors Multiple energy types Multiple public finance 20200000 2021123131/12/2021 Fiscal Multiple Several energy stages Public finance institution This line item reflects Islamic Development Bank investments made in "clean unconditional" projects (as per Energy Policy Tracker methodology) since January 1, 2021.
Project-level data can be accessed here: energyfinance.org
Islamic Development Bank (IsDB) Multiple Clean conditional Bundled – IsDB “Clean Conditional” Investments under $200 million in 2021 Multiple sectors Multiple energy types Multiple public finance 209600000 2021123131/12/2021 Fiscal Multiple Several energy stages Public finance institution This line item reflects Islamic Development Bank investments made in "clean conditional" projects (as per Energy Policy Tracker methodology) since January 1, 2021.
Project-level data can be accessed here: energyfinance.org
Islamic Development Bank (IsDB) Multiple Other energy Bundled – IsDB “Other Energy” Investments under $200 million in 2021 Multiple sectors Multiple energy types Multiple public finance 26000000 2021123131/12/2021 Fiscal Multiple Several energy stages Public finance institution This line item reflects Islamic Development Bank investments made in "other energy" projects (as per Energy Policy Tracker methodology) since January 1, 2021.
Project-level data can be accessed here: energyfinance.org
Islamic Development Bank (IsDB) Multiple Fossil unconditional Bundled – IsDB “Fossil Unconditional” Investments under $200 million in 2021 Multiple sectors Multiple fossil Multiple public finance 243900000 2021123131/12/2021 Fiscal Multiple Several energy stages Public finance institution This line item reflects Islamic Development Bank investments made in "fossil unconditional" projects (as per Energy Policy Tracker methodology) since January 1, 2021.
Project-level data can be accessed here: energyfinance.org
Islamic Development Bank (IsDB) Pakistan Fossil unconditional Import of Crude Oil, Refined Petroleum Products, and LNG Resources Oil and gas Loan (Hybrid),loan guarantee (... 1500000000 2021111919/11/2021 Fiscal Government of Pakistan Several energy stages Public finance institution "Pakistan has received $761.5 million from the Islamic Development Bank’s International Islamic Trade Finance Corporation (ITFC) in a syndicated Murabaha financing facility to purchase petroleum products and LNG from Saudi Arabia. The funding is part of a three-year umbrella Framework Agreement agreed with ITFC in June 2021 for a total envelop of $4.5 billion ($1.5 million annually). The financing facility will aid in funding the country’s oil and gas import bill as well as relieving pressure on the country’s foreign exchange reserves. NOTE: The only source for this project is a single news story; the date, description, and amount listed are drawn from that story,"

https://web.archive.org/web/20220927011217/
https://www.aboutpakistan.com/news/pakistan-gets-761-million-in-funds-from-itfc-for-petroleum-imports/
Islamic Development Bank (IsDB) Bangladesh Fossil unconditional Feni Oil-Fired Power Plant (114MW) IPP Resources Oil and oil products Loan (Hybrid),loan guarantee (... 21330000 2020111313/11/2020 Fiscal Lakdhanavi Electricity generation Government The financing is for the 114MW Feni oil-fired plant in Chattogram, Bangladesh. NOTE: The financing is being provided through the Islamic Corporation for the "Development of the Private Sector" program.

https://ijglobal.com/data/transaction/48897/feni-oil-fired-power-plant-114mw-ipp Accessed 28 January 2021.